What's new

PM Imran Khan launches 'Hunermand Jawan’ programme

WebGuru

Senior ODI Player
Joined
Mar 4, 2013
Runs
21,339
Post of the Week
3
ISLAMABAD: Prime Minister Imran Khan on Thursday launched Pakistan’s skill development programme called ‘Hunermand Jawan’ aimed at the emancipation of youth through quality professional training.

The programme will span out over the course of four years and will cost Rs30 billion which will facilitate youth through easy loans, professional capacity-building, start-ups and internships.

PM Imran said that youth are Pakistan’s asset and this programme is the first step to make them reach their full potential.

Addressing the youth PM Imran said, “I need you all to understand that there is no such thing as happily ever after as such things only exist in fairy tales.”

He also said that ups and downs are part of real-life and smart people make sure that they learn from their difficult time and use the experience to propel themselves towards success later.

In the first phase of the programme, approximately 170,000 youth will be given professional skill-based training, of which 50,000 will be trained in areas of artificial intelligence, robotics, cloud computing and other advanced areas of technology.

About 50,000 youth will be trained at Technical Education and Vocational Training Authority in orthodox areas which include auto-mechanics and plumbing whereas 20,000 youth will be given apprenticeship.

Under the programme, five ‘Centres of Excellence’ will be established in collaboration with our allied countries, whereas around 75 smart classrooms will be made to ensure easy access to skill and professional education besides provision of such training at 70 madaris.



Source: https://tribune.com.pk/story/2133626/1-pm-imran-launches-hunermand-jawan-programme/
 
First Presidential Alvi's Initiative for Artificial Intelligence & Computing and now this Hunermand Jawan program. Great to see our govt finally focusing on latest techs like AI, Cloud Computing etc...
 
If done with passion and careful planning it could be a life changer. They need to focus on quality to enable this programme to make a real difference I have seen for my self how many training programmes in the UK fall victim to fraud. It is estimated that 50% of apprenticeships are fake .
 
Come on PP’ers. I am sure there are some economists and administrators out there who can shed greater light on all this stuff. New to this time pass section, but would be great to have really informed perspectives contributing here as well - I know you guys often like to stay silent.

Specifically on these various initiatives - what are your thoughts on their possible short and long term impact? Can you give an overview of their activities so far to promote human development by this government in the past few months and whether you think they are now taking the right approach based on the situation they inherited?
 
First Presidential Alvi's Initiative for Artificial Intelligence & Computing and now this Hunermand Jawan program. Great to see our govt finally focusing on latest techs like AI, Cloud Computing etc...

Who cares ?

We prefer spending billions on metro buses, roads, etc.. and of course, the rest of the money has to go to our Swiss accounts.

Spending on education and jobs will only bring a positive impact on the people of Pakistan, and educated people will then understand the difference between corrupt and honest people, and this might lead to the end of a few polical parties.
 
Who cares ?

We prefer spending billions on metro buses, roads, etc.. and of course, the rest of the money has to go to our Swiss accounts.

Spending on education and jobs will only bring a positive impact on the people of Pakistan, and educated people will then understand the difference between corrupt and honest people, and this might lead to the end of a few polical parties.

PTI spent billions on BRT in Peshawar and it is still a disaster and will remain a disaster until some competent government takes over and cleans up the mess this joker government has created.

As a result, I don’t think PTI supporters are in a position to mock metro bus projects. At least PMLN knows how to get them up and running.

The BRT is the single biggest example of how our of depth these clowns are when it comes to developmental projects.
 
PTI spent billions on BRT in Peshawar and it is still a disaster and will remain a disaster until some competent government takes over and cleans up the mess this joker government has created.

As a result, I don’t think PTI supporters are in a position to mock metro bus projects. At least PMLN knows how to get them up and running.

The BRT is the single biggest example of how our of depth these clowns are when it comes to developmental projects.

The BRT project might be a disaster. But it doesn't have anything to do with the fact that the PMLN did nothing when it came to investing in education, health, etc...

The country faces the risk of finding itself with no water in 5 years and instead of investing in dams, these clowns kept building roads and buses to somehow make their illiterate followers believe that they are working for Pakistan.
 
ISLAMABAD: Prime Minister Imran Khan on Thursday launched Pakistan’s skill development programme called ‘Hunermand Jawan’ aimed at the emancipation of youth through quality professional training.

The programme will span out over the course of four years and will cost Rs30 billion which will facilitate youth through easy loans, professional capacity-building, start-ups and internships.

PM Imran said that youth are Pakistan’s asset and this programme is the first step to make them reach their full potential.

Addressing the youth PM Imran said, “I need you all to understand that there is no such thing as happily ever after as such things only exist in fairy tales.”

He also said that ups and downs are part of real-life and smart people make sure that they learn from their difficult time and use the experience to propel themselves towards success later.

In the first phase of the programme, approximately 170,000 youth will be given professional skill-based training, of which 50,000 will be trained in areas of artificial intelligence, robotics, cloud computing and other advanced areas of technology.

About 50,000 youth will be trained at Technical Education and Vocational Training Authority in orthodox areas which include auto-mechanics and plumbing whereas 20,000 youth will be given apprenticeship.

Under the programme, five ‘Centres of Excellence’ will be established in collaboration with our allied countries, whereas around 75 smart classrooms will be made to ensure easy access to skill and professional education besides provision of such training at 70 madaris.



Source: https://tribune.com.pk/story/2133626/1-pm-imran-launches-hunermand-jawan-programme/

Pakistan need a critical mass of talent trained in AI and robotics which will come in very handy in the 2020s..... Now the next step is to have some of these youth collaborating together under government mentorship to form startups that develop products and solutions that could revolutionize the Pakistani economy.


Those who only know how to bark will continue barking.
 
Wonderful stuff from the government. The first in the last few decades who actually have the future of our great nation in mind.
 
Prime Minister Imran Khan inaugurated the Azakhel dry port in Nowshera district on Friday. The dry port has been completed at a cost of Rs510 million and is expected to boost trade and economic activities in Khyber Pakhtunkhwa.

Addressing the ceremony, Prime Minister Imran congratulated Minister for Railways Sheikh Rashid Ahmed on the completion of the project.

"Now let me tell you why no government has ever invested money on railways ... it is because railways is the medium of travel for the poor, not the rich. Money was always poured into things and projects that will benefit the rich elite of the country," the prime minister said.

"Railways has been in loss for years, it rakes up losses worth billions every year and the hard-earned tax money that people pay is used to pay for those losses. Our government is trying to turn railways into a profitable organisation so that the common man can benefit from it.

"We will sell and re-purpose all the land that railways has in order to pay for the previous losses that the previous governments had raked up.

"We are trying to make Pakistan a welfare state. For that, we are trying to come up with policies that are people friendly. In railways, we have started giving concessions on tickets to people above the age of 60.

"We are also developing stalls on railway platforms for women so that they are able to make money and provide for their families." He also give the details of all the projects that the government has started under the Ehsas programme.

Earlier, Minister for Railways Rashid took the floor and said: “The Rs510 million Azakhel dry port project will promote business and trade in Khyber Pakhtunkhwa.”

"I would like to suggest that we add the Peshawar-Jalalabad rail route to the ML-1 track. I assure you prime minister sahib if that happens all smuggling will end in the country."

Ahmad said the Peshawar-Jalalabad railway project would connect Pakistan with Afghanistan and Central Asian Republics and turn the province into a hub of trade, business and investment.

"When it had started, the China-Pakistan Economic Corridor (CPEC) was solely based on a single railway track; other things were simple minor projects. Today, railways have been left behind because of negligence and CPEC has moved forward," Rashid said.

"I would also like to announce that railways will provide raises to its employees from the revenue it is generating," Rashid said while adding that 100,000 jobs will open up the day the ML-1 railway track opens. The minister said he was hopeful that the Pakistan Railways would become a profitable organisation within four years. He said the federal government had planned mega projects to strengthen and increase railway connectivity in Khyber Pakhtunkhwa.

He said the proposed railway track would pass through Loi Shalman area of Khyber tribal district, mountainous terrains and beautiful landscapes of KP and thus, promoting tourism.

He said the government had decided to open the Nowshera-Dargai railways section, which would help promote tourism in Malakand division, including Swat, Dir, Chitral and Buner districts.

Speaking before Prime Minister Imran and the minister for railways, Minister for Defence Pervez Khattak — who hails from Nowshera — pointed out some issues that the people of Azakhel have which the railway ministry and the prime minister's office could resolve.

"I am taking this opportunity to tell the railways minister and the prime minister the problems of the people of Nowshera and hope that Sheikh Rashid and the prime minister will announce some packages to solve these problems," Khattak said.

https://www.dawn.com/news/1527497/m...mran-inaugurates-azakhel-dry-port-in-nowshera
 
Do we have the Ministers and bureaucrats with the skill and passion to make it work? Time will tell

Our politicians can’t even grasp the concept of induced demand when it comes to infrastructure development. Developing human resource is a far more difficult task and I’m not very optimistic.
 
Prime Minister Imran Khan inaugurated the Azakhel dry port in Nowshera district on Friday. The dry port has been completed at a cost of Rs510 million and is expected to boost trade and economic activities in Khyber Pakhtunkhwa.

Addressing the ceremony, Prime Minister Imran congratulated Minister for Railways Sheikh Rashid Ahmed on the completion of the project.

"Now let me tell you why no government has ever invested money on railways ... it is because railways is the medium of travel for the poor, not the rich. Money was always poured into things and projects that will benefit the rich elite of the country," the prime minister said.

"Railways has been in loss for years, it rakes up losses worth billions every year and the hard-earned tax money that people pay is used to pay for those losses. Our government is trying to turn railways into a profitable organisation so that the common man can benefit from it.

"We will sell and re-purpose all the land that railways has in order to pay for the previous losses that the previous governments had raked up.

"We are trying to make Pakistan a welfare state. For that, we are trying to come up with policies that are people friendly. In railways, we have started giving concessions on tickets to people above the age of 60.

"We are also developing stalls on railway platforms for women so that they are able to make money and provide for their families." He also give the details of all the projects that the government has started under the Ehsas programme.

Earlier, Minister for Railways Rashid took the floor and said: “The Rs510 million Azakhel dry port project will promote business and trade in Khyber Pakhtunkhwa.”

"I would like to suggest that we add the Peshawar-Jalalabad rail route to the ML-1 track. I assure you prime minister sahib if that happens all smuggling will end in the country."

Ahmad said the Peshawar-Jalalabad railway project would connect Pakistan with Afghanistan and Central Asian Republics and turn the province into a hub of trade, business and investment.

"When it had started, the China-Pakistan Economic Corridor (CPEC) was solely based on a single railway track; other things were simple minor projects. Today, railways have been left behind because of negligence and CPEC has moved forward," Rashid said.

"I would also like to announce that railways will provide raises to its employees from the revenue it is generating," Rashid said while adding that 100,000 jobs will open up the day the ML-1 railway track opens. The minister said he was hopeful that the Pakistan Railways would become a profitable organisation within four years. He said the federal government had planned mega projects to strengthen and increase railway connectivity in Khyber Pakhtunkhwa.

He said the proposed railway track would pass through Loi Shalman area of Khyber tribal district, mountainous terrains and beautiful landscapes of KP and thus, promoting tourism.

He said the government had decided to open the Nowshera-Dargai railways section, which would help promote tourism in Malakand division, including Swat, Dir, Chitral and Buner districts.

Speaking before Prime Minister Imran and the minister for railways, Minister for Defence Pervez Khattak — who hails from Nowshera — pointed out some issues that the people of Azakhel have which the railway ministry and the prime minister's office could resolve.

"I am taking this opportunity to tell the railways minister and the prime minister the problems of the people of Nowshera and hope that Sheikh Rashid and the prime minister will announce some packages to solve these problems," Khattak said.

https://www.dawn.com/news/1527497/m...mran-inaugurates-azakhel-dry-port-in-nowshera

Railways is not only for poor but also middle class, many of my childhood memories are of traveling for 32-36 hrs in train from Chennai to Delhi stopping throughout India , diff stations , diff states which had diff food.
 
Last edited:
Prime Minister Imran Khan on Monday said the way Pakistani nationals have excelled in different professions abroad manifests abundance of talent in the country, which needs to be promoted on the basis of merit.

“We can improve all departments up to international standard by only following merit,” he said while addressing a distribution ceremony of loan cheques under the Kamyab Jawan Programme here at the Sindh Governor House. He cited the example of Australia promoting sports talent through pursuing merit which made it proud with its players bringing laurels. He recalled that in the era of 1960s, Pakistan’s bureaucracy was at the top in Asia because of the best examination and evaluation system, which had produced the best officials.

He asked the Chairman of PM’s Youth Programme, Usman Dar, to pursue merit in the Kamyab Jawan Programme. The youth having good business ideas should be provided financing, he stressed.

The prime minister said Pakistan is the second youngest nation in the world. “We are investing in our youth as we believe that they have passion to work hard and will take the country forward,” he said.

He said China had had invested around 30 years ago in poverty alleviation and with making rapid economic growth, it is now a developed country. He said his government has allocated Rs 200 billion under the Ehsaas Programme for the betterment of poor and deserving sections in the society.

Imran Khan said he had dreams about playing test cricket for Pakistan, become a world number one all-rounder, make Pakistan cricket champion and build cancer hospitals in the country. “I have turned all the dreams into reality with sheer hard work and consistent struggle,” he added.

He said the people would make fun of him when he joined politics around 15 years ago. “Now I have a dream to make Pakistan a welfare state as per the visions of Dr Allama Iqbal and Quaid-e-Azam,” he added.

He advised the youth to follow the teachings and life of Holy Prophet (Peace Be Upon Him) to achieve success in their lives. He said the Holy Prophet (Peace Be Upon Him) after a hard struggle for 13 years founded the State of Madina and then faced further hardships for more five years. The state, which was established by the Holy Prophet (Peace Be Upon Him) after passing through tough phases, had become best example to be emulated by the entire world, he added.

The prime minister advised the youth to face tough time with courage and not to give up because every successful man learnt from the hard times. He always told his cabinet members not to panic in the tough times and instead get a lesson to go ahead, he said, adding that action will be taken against the mafia which was behind the inflation and made money in the process.

Speaking on the occasion, Advisor to the Prime Minister on Finance and Revenue Abdul Hafeez Sheikh said the countries which paid attention to their people had developed. “We have to make tough decisions to save the economy,” he said.

He said the Kamyab Jawan Programme is not for relatives of anybody. “We will try to make all the banks part of the programme,” he added.

Sindh Governor Imran Ismail said Prime Minister Imran Khan is investing in the youth, who should consider the loan as ‘amanat’ being the money of taxpayers, which they would to return.

Earlier, the prime minister distributed loan cheques among around 200 successful applicants under the PM’s Youth Programme. Federal Minister for Planning, Development and Special Initiatives Asad Umar and Advisor to the Prime Minister on Youth Affairs Usman Dar were also present.

https://dailytimes.com.pk/547737/kamyab-jawan-programme-launched-in-sindh/
 
<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">A truly free, liberated & rich human being is one who's soul is priceless - beyond any material price. Dedicated to the youth of Pakistan. <a href="https://t.co/CvAwxuQyNO">pic.twitter.com/CvAwxuQyNO</a></p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1373920662725726208?ref_src=twsrc%5Etfw">March 22, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
So we are going the Indian way to bypass mass scale manufacturing step and go directly towards skills based services sector. I believe it not to be a good idea. Pakistan doesn’t has an indigenous demand of IT skills, even India doesn’t have one fully. They basically provide low cost services to markets in developed/developing countries.

For me the way should be to go for skills in mass scale manufacturing jobs. I for we had this vision in 1960s when we invested in hard manufacturing industry and subsequently in fertiliser, oil and gas and mining as well. But last 2-3 decades has seen very alarming drop of manufacturing skills and jobs in Pakistan. Even textile industry declined and some shifted to Bangladesh.

Traditional development route goes through mass scale manufacturing which lifts millions out of poverty. Specialised services like IT can not compete with manufacturing jobs in terms of boosting employment rates and skill development.
 
So we are going the Indian way to bypass mass scale manufacturing step and go directly towards skills based services sector. I believe it not to be a good idea. Pakistan doesn’t has an indigenous demand of IT skills, even India doesn’t have one fully. They basically provide low cost services to markets in developed/developing countries.

For me the way should be to go for skills in mass scale manufacturing jobs. I for we had this vision in 1960s when we invested in hard manufacturing industry and subsequently in fertiliser, oil and gas and mining as well. But last 2-3 decades has seen very alarming drop of manufacturing skills and jobs in Pakistan. Even textile industry declined and some shifted to Bangladesh.

Traditional development route goes through mass scale manufacturing which lifts millions out of poverty. Specialised services like IT can not compete with manufacturing jobs in terms of boosting employment rates and skill development.

I don't think we are planning on bypassing mass scale manufacturing. IK has emphasized that aspect many times in his speeches. The issue is that current system isn't competent enough to rapidly implement such policies like we did in 60s. Our bureaucracy back then was good (was considered among the best in Asia). Decades of systematic corruption has ruined this institution.
 
14-15 months later, what is the latest on this drama?

This clueless and incompetent government keeps coming up with fancy and useless initiatives and programs that pulls wool over the eyes of the public and then they forget about what they promised and initiated.

We have seen a dozen such projects fizzle into nothing since 2018.
 
This is a great initiative if executed properly. A skilled youth is an asset for any country.
 
I don't think we are planning on bypassing mass scale manufacturing. IK has emphasized that aspect many times in his speeches. The issue is that current system isn't competent enough to rapidly implement such policies like we did in 60s. Our bureaucracy back then was good (was considered among the best in Asia). Decades of systematic corruption has ruined this institution.

I agree and really hope that we do something for manufacturing. Engineers are in surplus while qualified technicians are scarce in Pakistani industry. Especially now when many in west see mass higher education as useless and redundant.
 
ISLAMABAD: Prime Minister Imran Khan Monday launched ambitious Kamyab Pakistan Programme (KPP) worth Rs1400 billion in Islamabad to facilitate the vulnerable segments of the society.

Addressing the inaugural ceremony of Kamyab Pakistan Programme in the federal capital, PM Imran Khan said that the project should have been launched 74 years ago.

The prime minister termed the KPP a landmark initiative and said that it will bring improvement in the living standards of the common man.

“Our system is made to facilitate the elite class,” the prime minister said, adding that the state of Madina was a role model for him.

Terming the Madina state the world’s most successful model, PM Imran said that people become prosperous after a welfare state was established in Madina.

Lashing out at the previous governments, the prime minister said the flawed policies of the past left far behind our marginalized segments of the society.

“Inequality is the basis of the downfall of any society,” PM Imran added. He maintained that no government worked on the uniform syllabus in the country.

Referring to China’s progress, the prime minister said that Beijing took measures to facilitate the vulnerable segments of the society and became a developed country within 35 years.

PM Imran, while talking about petrol prices, said, “In Pakistan, prices of petroleum products are less as compared to other countries of the region.”

“We have also tried to absorb the maximum pressure of international increase in the prices of commodities. There has been 100% increase in the prices of petroleum products over the last few months but we only increased their prices by 22%,” said the prime minister.

He maintained that his government reduced sales tax and levy on petrol to facilitate the masses.

It is pertinent to mention here that under the flagship programme, the government will provide Rs1.4 trillion micro-loans to 3.7 million households across the country.

The KPP will be rolled out in phases. During the first phase, the loans will be provided to the deserving families in Gilgit-Baltistan, AJK, Balochistan, Khyber Pakhtunkhwa and the underprivileged areas of Punjab and Sindh.

In line with the vision of the prime minister to empower the masses, the government has taken multiple initiatives, which are targeted towards poverty alleviation, employment generation and provision of affordable housing for the people.

The KPP initiative has been designed to transform the lives of the marginalised segments of society. The programme shall disburse microcredit amounting to Rs1,400 billion for the poorest of the poor, providing them with much needed financial support to improve their livelihood. Financing under the KPP shall only be extended to families with a cumulative average monthly income of up to Rs50,000 per month.

This is the first programme of its kind in Pakistan’s history wherein the banks are being connected to the lowest income segment through micro-finance institutions. KPP, a brainchild of Finance Minister Shaukat Tarin, is based on the concept of financial empowerment i.e. creating opportunities to improve the financial health of people with limited access to resources.

The finance minister stated that the government is firmly committed not to provide fish to the poor people but teach them how to catch one for a sustainable living arrangement under the umbrella of KPP. The whole paradigm of KPP will change the lives of the underprivileged people in Pakistan over the years. The programme is based on the most innovative financing structure in recent times.

What is Kamyab Pakistan Programme?
KPP has five components namely (i) Kamyab Kissan (ii) Kamyab Karobar (iii) Naya Pakistan low-cost housing (iv) Kamyab Hunarmand and (v) Sehatmand Pakistan.

Under the first 3 components, micro-loans shall be disbursed amongst eligible persons registered with Ehsaas Data, scientifically collected through National Socio-economic Registry (NSER).

The last two components of KPP will be integrated with the government’s existing initiatives. Kamyab Hunarmand is designed to integrate with the government’s ongoing skill development programme for imparting educational and vocational training to our talented youth.

The KPP also includes a user-friendly portal called Kamyab Pakistan Information System (KPIS). The portal will be integrated with Ehsaas and Nadra databases for verification of beneficiaries’ eligibility to facilitate the executing agencies (i.e. MfP’s) for finalising the financing modalities in a most efficient and seamless manner.

KPP will complement the efforts of the government to counter inflation by enabling the masses to improve their livelihood.

KPP is a true dispensation of a responsible state to uplift its poor and vulnerable segments with a key focus on a “bottom-up approach” for achieving all-inclusive and sustainable economic growth as envisaged by the prime minister.
 
Plenty of these programmes around are they actually doing anything or is it all waffle to please the media?
 
All these are gimmicks! Nothing comes out of all of them! A trick to distract the masses.
 
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I am proud to partner with <a href="https://twitter.com/ImranKhanPTI?ref_src=twsrc%5Etfw">@ImranKhanPTI</a> Kamyab Jawan Sports Drive on behalf of <a href="https://twitter.com/GSVOfficial1?ref_src=twsrc%5Etfw">@GSVOfficial1</a> to mobilize the youth of Pakistan for football. <a href="https://twitter.com/UdarOfficial?ref_src=twsrc%5Etfw">@UdarOfficial</a> <a href="https://twitter.com/KamyabJawanPK?ref_src=twsrc%5Etfw">@KamyabJawanPK</a><a href="https://twitter.com/hashtag/KJSportsDrive?src=hash&ref_src=twsrc%5Etfw">#KJSportsDrive</a> <a href="https://twitter.com/hashtag/FootballHoga?src=hash&ref_src=twsrc%5Etfw">#FootballHoga</a> <a href="https://t.co/DARiuiX2Dp">pic.twitter.com/DARiuiX2Dp</a></p>— michael owen (@themichaelowen) <a href="https://twitter.com/themichaelowen/status/1467404349966008321?ref_src=twsrc%5Etfw">December 5, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
The government has decided to considerably enhance the borrowing limit set for the youth business loan programme to a maximum Rs50 million per person, in addition to relaxing the criteria of sovereign guarantees amid political turmoil in the country.

The decision has been taken this week on the insistence of Special Assistant to Prime Minister on Youth Affairs Usman Dar. The finance ministry was against further increasing the borrowing limits and relaxing the criteria of sovereign guarantees due to an understanding reached with the International Monetary Fund in the past.

The government sources said that it has been decided that the borrowing limits under all the three tiers of Kamyab Jawan Programme will be significantly increased. A summary will now be moved for seeking the endorsement of the Economic Coordination Committee of the Cabinet, which is chaired by Finance Minister Shaukat Tarin.

The government is disbursing loans among the youth under three tiers. Under tier-I, the loan size is Rs100,000 to Rs1 million with 50% cover against losses to the banks. The tier-II has the lending limit in the range of over Rs1 million to Rs10 million. The third tier had the loan limit of over Rs10 million to maximum Rs25 million with relatively low cover available to the banks against the losses.

As against treating the sovereign guarantees’ amount against the disbursed loan, it has now been decided that the guarantees' amount will be calculated only against the outstanding loan amount, according to the sources. This has automatically provided room to the government to give more loans without relaxing the upper sovereign guarantees limit.

Pakistan had given a commitment to the IMF that the sovereign guarantees against the youth loan programme would not exceed Rs16 billion in the current fiscal year.

The government has so far disbursed nearly Rs36 billion among 22,540 beneficiaries under various categories of the youth business loan programme, according to details available on the programme’s official webpage.

As much as 87% of the total lending or over Rs31 billion has been given in Punjab alone.

The government has so far received 1.3 million applications under the business loan programme out of which the banks have rejected about 816,000 applications. Over 461,000 applications are currently in the processing stage.

Read PM launches Rs407b interest-free loan programme

The government wanted to disburse another Rs30 billion before June 30 amid its desire to give a major push to the ongoing pro-people initiatives. This will bring the total disbursements to over Rs66 billion –far higher than the projections made by the finance ministry on the basis of the existing maximum guarantee limit to Rs16 billion that is agreed with the IMF.

During yet another failed round of Pak-IMF talks held this month under the 7th review of the bailout programme, the IMF had raised serious concerns about the financial viability of the programmes launched by the government.

The IMF’s concerns were that the government was compromising the fiscal sustainability of the country due to its political considerations, the finance ministry sources said. This was one of the reasons behind disagreement between Pakistan and the IMF.

After the opposition moved a no-confidence motion against the prime minister, the government took many populist decisions that could expedite the economic deterioration. The decision to increase the borrowing limits is also seen in this context, according to the finance ministry sources.

The sources said that the maximum borrowing limit under the tier-one will be increased from Rs1 million to Rs2 million. The current interest rate for this threshold is only 2%.

It has also been decided to increase the borrowing limit under tier two from Rs10 million to Rs25 million, broadening the scope to more business traits.

The maximum limit under the third tier is also being increased from Rs25 million to Rs50 million, according to the sources.

The revised maximum borrowing limit of Rs50 million is quite high and the banks may need to exercise more caution before approving new loans

Usman Dar was not available for the comments.

https://tribune.com.pk/story/235023...gramme-govt-enhances-borrowing-limit-to-rs50m
 
The previous government disbursed Rs7.6 billion in loans under the Kamyab Pakistan Programme, which was equal to only 15% of the revised target, as banks adopted a ‘go-slow’ strategy after the change of political setup.

From November till March-end - a week before the end of Pakistan Tehreek-e-Insaf (PTI) government - the partner institutions disbursed Rs7.6 billion among 48,237 beneficiaries, according to data compiled by the Ministry of Finance.

The figure was quite low when compared with what former prime minister Imran Khan wanted to disburse among the poor and low middle-income groups.

In October last year, Imran Khan launched the programme to disburse interest-free loans to help people start their own business, buy agricultural inputs and build homes.

Initially, the previous government wanted to give Rs1.4 trillion worth of loans to millions of beneficiaries in three years. But the cabinet approved only Rs228 billion worth of programmes that it wanted to disburse among 738,000 people till August next year aimed at addressing concerns of the International Monetary Fund (IMF).

The reduced programme target was Rs10 billion a month but the actual average disbursement during the first five months of the implementation period remained at Rs1.5 billion - far lower than the revised target, showed the statistics.

Akhuwat - a microfinance institution - disbursed Rs4.8 billion in loans among 27,328 people as of the end of March.

Disbursements by The Bank of Punjab through the National Rural Support Programme (NRSP) stood at Rs2.8 billion, which was given to about 20,909 clients, according to the finance ministry officials.

Partner banks have informally told the microfinance institutions to “go slow” and they have almost stopped disbursements due to the change in government, the head of a microfinance institution revealed.

The institution has requested the Ministry of Finance to allow Rs10 billion more disbursements to meet the commitments.

It is most unfortunate that public welfare programmes such as the Kamyab Pakistan Programme are to be curtailed, said former finance minister Shaukat Tarin, who was behind the launch of the programme.

“These are interest-free programmes for the poor. Have some mercy for the poor,” tweeted Tarin on Monday.

He said that both The Bank of Punjab and National Bank of Pakistan had told the microfinance institutions to adopt a ‘go-slow’ strategy.

However, the Ministry of Finance has not yet officially issued instructions to the partner banks of microfinance institutions to roll back the programme.

It is quite obvious that the programme will be reviewed by the new government, said the head of a partner institute while talking to The Express Tribune.

Tarin maintained that the programme size was already limited and no major subsidies were involved, thus, there was no rationale to cut the programme size or abandon it.

Where the previous government disbursed Rs7.6 billion among the most deserving people, it also doled out hundreds of billions of rupees among the richest class.

Under the Temporary Economic Refinance Facility (TERF), the State Bank of Pakistan (SBP) disbursed Rs426 billion among the 678 richest people, said Daniyal Aziz, senior PML-N leader, while speaking at the Express News programme - The Review.

Aziz said that the Rs426 billion TERF loans not only fueled inflation but also brought the rupee under pressure when industrialists opened letters of credit for import of machinery under the TERF scheme.

The Kamyab Pakistan Programme was the brainchild of Tarin and was aimed at lifting people out of poverty and supporting low-income groups by providing them interest-free loans of up to Rs500,000 for doing business and procuring inputs and machinery.

However, under an agreement with the IMF, the last government fixed the maximum loan disbursement at Rs10 billion a month, far lower than the Rs43 billion initially considered.

According to the plan approved by the previous cabinet, a major chunk - Rs152 billion, or 67% of total loans - was to go to 152,100 people to enable them to buy low-cost housing units during fiscal years 2021-22 and 2022-23.

Under the scheme, the government had planned to disburse Rs52.3 billion, or 23% of loans, among 348,480 beneficiaries in the remaining two years. Loans of up to Rs500,000 will be given.

Finance ministry statistics showed that Akhuwat disbursed Rs3.5 billion under business loans among 24,384 people from November till the end of March of current fiscal year.

It also gave Rs1.25 billion in house financing to 2,579 people and Rs370 million was distributed among 365 farmers by the end of March.

NRSP disbursed Rs884 million for business among over 4,000 people and Rs1.9 billion was given to 16,822 farmers for procurement of inputs and machinery, according to the official statistics.



Published in The Express Tribune, April 19th, 2022.
 
Back
Top